Biltmore Family Office LLC purchased a new position in shares of Southern (NYSE:SO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 16,194 shares of the utilities provider’s stock, valued at approximately $779,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Taylor Hoffman Wealth Management acquired a new stake in Southern in the 4th quarter valued at approximately $104,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Southern in the 3rd quarter valued at approximately $105,000. Fieldpoint Private Securities LLC acquired a new stake in Southern in the 3rd quarter valued at approximately $118,000. Acropolis Investment Management LLC acquired a new stake in Southern in the 4th quarter valued at approximately $134,000. Finally, Bank of Nova Scotia Trust Co. acquired a new stake in Southern in the 3rd quarter valued at approximately $147,000. 56.40% of the stock is currently owned by institutional investors.
Shares of NYSE SO traded down $0.22 during midday trading on Friday, hitting $44.79. 4,113,327 shares of the company’s stock were exchanged, compared to its average volume of 5,328,453. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.84. Southern has a 12 month low of $42.38 and a 12 month high of $53.51. The company has a market capitalization of $45,377.23, a P/E ratio of 14.83, a P/E/G ratio of 3.45 and a beta of 0.02.
Southern (NYSE:SO) last issued its earnings results on Wednesday, February 21st. The utilities provider reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.05. Southern had a return on equity of 11.96% and a net margin of 3.82%. The company had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same period in the previous year, the company posted $0.24 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. analysts predict that Southern will post 2.9 EPS for the current fiscal year.
A number of brokerages recently issued reports on SO. Royal Bank of Canada reissued a “buy” rating on shares of Southern in a research report on Friday, December 22nd. UBS began coverage on Southern in a research report on Friday, February 2nd. They issued a “neutral” rating and a $46.00 target price on the stock. SunTrust Banks set a $47.00 price target on Southern and gave the stock a “hold” rating in a research report on Wednesday, January 17th. ValuEngine lowered Southern from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Deutsche Bank lowered their price target on Southern from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Seven analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Southern currently has an average rating of “Hold” and an average target price of $49.17.
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The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.
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